Character Office Building with Historic
1641 West Broad St Richmond, VA 23220
1641 West Broad St, Richmond, VA, 23220
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For Sale
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Distinctive historic-office building with large windows and flexible space for owner-occupants and professional tenants.
Property Size4,871 SF
Price / SF$153.97
Days on Market51
Property Features for 1641 West Broad St
General Information
- Standard status
- Active
- Size
- 4,871 SF
- Property subtype
- Office
Building Details
- Year Built
- 1925
Listing agency
One South Commercial
(804) 266-8831
Listed by
Lory Markham · License #VA 0225227308
Source
Crexi
Added: Jun 1 Updated: Jul 10 at 1:49PM Checked: Jul 21 at 2:41PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of One South Commercial
Investment Insights
Based on property information with market context.
1641 W Broad Street is a character-rich office building offering approximately 4,871 square feet of office space plus a partial basement. The property was renovated in 1975 by structural engineer William J. Davis, blending classic historic detailing with retro-influenced interior character. Inside, large windows and distinctive interior finishes help create an inviting workplace environment for both employees and visiting clients, with a layout described as flexible and well-suited to a range of office users.
The building is positioned along West Broad Street in Richmond and is presented as benefiting from strong connectivity and visibility within a dynamic growth corridor. The remarks state that the property provides immediate access to Downtown Richmond, Scott’s Addition, VCU, and Interstate 95/64.
This is a practical fit for an owner-occupant seeking long-term operational control in an architecturally distinctive setting, as well as for organizations that want professional space with authentic architectural personality. The flexible layout and windowed interior configuration support a variety of uses including creative firms, design studios, nonprofits, and boutique headquarters, depending on the tenant’s space planning needs.
The building is positioned along West Broad Street in Richmond and is presented as benefiting from strong connectivity and visibility within a dynamic growth corridor. The remarks state that the property provides immediate access to Downtown Richmond, Scott’s Addition, VCU, and Interstate 95/64.
This is a practical fit for an owner-occupant seeking long-term operational control in an architecturally distinctive setting, as well as for organizations that want professional space with authentic architectural personality. The flexible layout and windowed interior configuration support a variety of uses including creative firms, design studios, nonprofits, and boutique headquarters, depending on the tenant’s space planning needs.
Key Highlights
- Historic office building built in 1925 with approximately 4,871 SF of office space plus a partial basement
- Renovated in 1975 by structural engineer William J. Davis
- Office layout described as flexible and suited for creative firms, professional offices, nonprofits, design studios, or boutique headquarters
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $103.5k | $21.24 |
| − Vacancy | −$16.1k | −$3.31 |
| EGI | $87.3k | $17.93 |
| − OpEx | −$21.8k | −$4.48 |
| NOI | $65.5k | $13.44 |
4,871 SF · lease $21.24/SF/yr · vacancy 15.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$935.6K
$818.6K – $1.09M
NOI $65,490 @ 7.0% cap · market cap 8.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.13M
$984.7K – $1.31M
NOI $78,776 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Virginia Restoration & Construction
Construction Company
William J Davis ...
Civil Engineer
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FAQs
What type of property is this?
Office building - Distinctive historic-office building with large windows and flexible space for owner-occupants and professional tenants.
Where is this office building located?
The property is located at 1641 West Broad St Richmond, VA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Historic office building built in 1925 with approximately 4,871 SF of office space plus a partial basement; Renovated in 1975 by structural engineer William J. Davis; Office layout described as flexible and suited for creative firms, professional offices, nonprofits, design studios, or boutique headquarters
